Zambia: ZESCO Reverts To Normal Electricity Tariffs After Ending Emergency Rate
Zambia’s power utility company, ZESCO Limited, has ended the implementation of the emergency electricity tariff introduced in November 2024.
The tariff was implemented to enable the utility to procure external power following a drought that reduced domestic generation from the country’s hydroelectric dams.
The decision follows ZESCO’s application, submitted on October 10, seeking to end the emergency tariff — a request that was subsequently approved by the Energy Regulation Board (ERB).
Consequently, the utility has reverted to the four-tier structure under the Multi-Year Tariff Framework (MYTF) for residential customers.
A statement issued by ZESCO on Friday confirmed that the emergency tariff ended effective October 31, 2025.
“As of 1 November 2025, ZESCO reverted to the Multi-Year Tariff Framework (2023–2027), a stable and predictable tariff structure designed to promote long-term energy security and sustainability.
The lifeline units (the first 200 units per month) remain unchanged to provide relief to low-income households,” the company said.
ZESCO further noted that tariffs for social services and water pumping stations have also not been adjusted.
“We encourage all customers to familiarise themselves with the newly approved residential tariffs to better understand what this means for their households,” the statement added.
Meanwhile, the ERB rejected ZESCO’s proposal to introduce a standard residential tariff for customers not qualifying under the lifeline category.
The regulator directed ZESCO to undertake further studies to develop a more practical and equitable approach.
Coming Surge In LNG Production Set To Reshape Global Gas Markets
Global gas markets are poised for major changes by the end of this decade, with a new wave of liquefied natural gas (LNG) production capacity expected to transform market dynamics, according to the latest edition of the IEA’s Medium-Term Gas Market Outlook.
Gas 2025 offers a comprehensive overview of potential supply, demand, and trade trends in global natural gas markets over the coming years.
The report provides a detailed review of recent market developments ahead of the 2025–26 Northern Hemisphere winter and includes forecasts for how supply and demand could evolve through 2030.
According to the report, around 300 billion cubic metres (bcm) per year of LNG export capacity — a record — is set to be added by 2030, primarily driven by liquefaction capacity expansions in the United States and Qatar.
Over 80 bcm of annual LNG liquefaction capacity has already been sanctioned in the United States this year — an all-time high for the US LNG sector.
This unprecedented global expansion is expected to strengthen supply security and ease market pressures following a period of tightness.
Although gas markets have gradually rebalanced following the supply shock triggered by Russia’s invasion of Ukraine in 2022, prices remain well above historical averages. This has restrained demand, especially in price-sensitive Asian markets. Global gas demand growth is forecast to slow from 2.8% in 2024 to below 1% in 2025.
However, the report projects that the surge in liquefaction capacity will translate into a potential net LNG supply increase of 250 bcm per year by 2030. Barring unexpected disruptions, this expansion is expected to lower prices in the coming years and stimulate higher demand.
“The coming LNG wave is set to offer some respite for global gas markets, which have been tight and volatile for several years. As new supply comes to market, notably from the United States and Qatar, it should apply downward pressure on prices – offering welcome relief for gas importers worldwide,” said IEA Director of Energy Markets and Security, Keisuke Sadamori. “But elevated geopolitical tensions and economic uncertainty mean there is no room for complacency. Global cooperation remains essential to ensure supply security – especially with rising electricity consumption set to drive gas demand higher in many regions.”
In the report’s base case, natural gas demand is projected to rise by nearly 1.5% annually between 2024 and 2030, representing an increase of 380 bcm in absolute terms.
The Asia-Pacific region is expected to account for half of this growth, while the Middle East — where countries such as Saudi Arabia are shifting from oil to gas for power generation — would contribute nearly 30%.
In a high-case scenario, which explores how a sharper decline in LNG prices could spur additional demand growth, particularly in the Asia-Pacific region, global gas use could increase by as much as 1.7% annually through 2030 — representing over 65 bcm per year of additional demand on top of the base case.
At the same time, a prolonged period of lower LNG prices could dampen the incentive for project developers to invest in new capacity, potentially leading to a tightening of global gas markets after 2030 if demand continues to rise strongly.
As part of its detailed annual analysis of global supply security, the report also reviews recent contracting trends, noting that the global LNG market is becoming increasingly liquid and flexible. Destination-free contracts are projected to account for just over half of total LNG volumes contracted by 2030.
The report further highlights the potential for deploying carbon capture technologies along LNG value chains to reduce the emissions intensity of supply. It also includes a section on the medium-term outlook for biomethane, low-emissions hydrogen, and e-methane.
Nigeria: Five Arrested For Vandalising Transformers, Streetlights In Kwara State
Security operatives in Kwara State, Nigeria, have arrested five suspected vandals for allegedly stealing transformer and streetlight cables in the Tanke area of Ilorin, the state capital.
The suspects — identified as Samson Akintola (21), Muhammed Zakariya (19), Mohammed Monsur (20), Ibrahim Hamida (19), and Kabir Abubakar (24) — were apprehended around 1 a.m. on Saturday, November 1, 2025, during a joint operation involving operatives of the Nigeria Security and Civil Defence Corps (NSCDC) from the Tanke Division and members of the Tanke Community Vigilante Group.
According to a statement issued on Thursday by the Corps’ Public Relations Officer, ASC I Ayoola Shola, the suspects were intercepted with vandalised transformer and streetlight cables believed to have been stolen from the Asa Dam and Sapati areas of Ilorin.
“Items recovered include vandalised transformer cables, streetlight cables, and burnt copper wires.
“Preliminary investigations revealed that the suspects had been involved in the wilful vandalisation and theft of public electrical installations — an offence contrary to Section 1(9) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria, 2004.
“The suspects are currently in custody and will be charged to court upon completion of investigations,” the statement added, noting that efforts are ongoing to apprehend other accomplices connected to the crime.
The State Commandant of the NSCDC, Dr. Umar Mohammed, warned against the vandalisation of public infrastructure, stressing that such acts undermine development and expose communities to blackouts and insecurity.
“We are committed to protecting all critical national assets and infrastructure in Kwara State. Let this serve as a warning to others: anyone caught sabotaging public utilities will face the full wrath of the law,” he said.
The NSCDC command reiterated its readiness to collaborate with community vigilantes and residents to safeguard public installations across the state.
South Africa: Eskom’s Diesel Spending Surpasses US$7 Billion In Seven Years
South Africa’s power utility, Eskom, has spent a total of R121.5 billion (approximately US$7 billion) on diesel over the past seven years — a staggering financial outlay as the company strives to balance operational demands with cost efficiency.
The figures were shared by Eskom earlier this week.
In the 2019 financial year, Eskom budgeted R1.024 billion for diesel but ended up spending R6.206 billion, reflecting heavy emergency usage.
In 2020, the diesel budget was set at R1.078 billion, yet actual spending rose sharply to R8.63 billion, again highlighting the utility’s reliance on diesel generation.
The trend continued in 2021, when Eskom planned for R1.939 billion but ultimately spent more than R8.2 billion.
In 2022, diesel costs increased significantly, with a budget of R1.556 billion and actual expenditure reaching nearly R12.7 billion.
The following year, 2023, the company budgeted R14 billion, but diesel expenses surged to over R29 billion, underscoring persistent operational challenges and dependence on emergency generation.
For 2024, Eskom budgeted R27.9 billion and spent R33.357 billion — still over budget but demonstrating ongoing investment in grid stability.
Interestingly, in 2025, actual diesel spending dropped to R17 billion, well below the R21.8 billion budgeted, signaling improved cost control.
As of the 2026 financial year to date, Eskom’s diesel expenditure stands at about R6.7 billion against a budget of R8 billion, maintaining the positive trend of reduced reliance on diesel fuel.
This pattern suggests that Eskom is gradually curbing its dependence on diesel, despite periodic fluctuations driven by operational pressures — a shift that reflects both fiscal improvement and enhanced generation performance.
Ghana: PDS Deal Failed Due To Mismanagement, Not Concept — President Mahama
Ghana’s President John Dramani Mahama has said the controversial Power Distribution Services (PDS) concession was not a bad initiative in itself but failed because of poor management and personal interests that undermined its implementation.
Speaking on Thursday, November 6, at the sod-cutting ceremony for the Multi-purpose Solar Energy Project at the Dawa Industrial Park in Agotor, the President noted that the PDS arrangement was designed to introduce private-sector efficiency into Ghana’s electricity distribution.
However, he said the deal collapsed due to how it was handled.
“I know that there was an attempt to involve the private sector in power utility and distribution. We all remember the example with PDS. PDS was not a bad thing; it was just handled wrongly, and many people had personal interests in it. That’s why it failed. But there is something to be said for injecting private-sector efficiency into public utilities,” President Mahama stated.
His remarks come amid renewed public debate on Ghana’s power sector reforms following the recent ruling by the London Court of International Arbitration (LCIA), which dismissed all claims filed by PDS against the Electricity Company of Ghana (ECG) over the termination of their concession agreement.
The PDS deal, signed in 2019 under the Millennium Challenge Compact (MCC) between the Government of Ghana and the Millennium Challenge Corporation (MCC) of the United States, was intended to enhance efficiency and service delivery in ECG’s operations.
Under the 20-year concession, PDS was to manage ECG’s assets and distribution operations nationwide. However, months after assuming control, the government suspended and later terminated the contract after it emerged that payment guarantees submitted by PDS through Al Koot Insurance and Reinsurance Company of Qatar were fraudulent.
Subsequent investigations confirmed that the guarantees were not authorised by Al Koot — a fact later upheld by the Qatari Court of Cassation. The fake guarantees, which were critical to PDS’s financial obligations, rendered the entire concession invalid.
PDS later sought arbitration in London, accusing ECG of wrongful termination and demanding more than US$390 million in compensation. ECG, represented by Omnia Strategy LLP led by Cherie Blair KC, defended its position, arguing that PDS’s failure to authenticate the guarantees amounted to a fundamental breach of contract.
After nearly three years of hearings, the tribunal ruled in favour of ECG, dismissing all PDS claims and affirming that the fraudulent guarantees struck at the heart of the agreement, justifying its termination.
Ghana: London Tribunal Dismisses $390 Million Claim Filed By PDS Against ECG
A London-based arbitration tribunal has dismissed a US$390 million claim filed against the Electricity Company of Ghana (ECG) in connection with the termination of its concession agreement during the previous administration.
The tribunal’s ruling, which follows nearly three years of proceedings, marks a decisive end to the long-running dispute arising from the contract’s termination.
In 2019, PDS took over the management of ECG under a 20-year concession agreement, which was part of the Millennium Challenge Compact (MCC) programme between the Government of Ghana and the Millennium Challenge Corporation (MCC) of the United States.
The agreement was intended to bring private-sector efficiency into ECG’s operations and improve electricity distribution across the country. However, just months into the arrangement, the Government of Ghana, through ECG, suspended and later terminated the contract.
The termination followed revelations that the payment guarantees provided by PDS—through Al Koot Insurance and Reinsurance Company of Qatar—were fraudulent.
These guarantees were a key requirement of the deal, designed to secure PDS’s financial obligations under the concession.
Despite assurances from PDS that it had fulfilled all preconditions for the transfer, investigations revealed that Al Koot had not authorised the guarantees in question.
Subsequent court rulings in Qatar, including from the Qatari Court of Cassation, confirmed that the documents were indeed forged.
Following the termination, PDS initiated arbitration proceedings in London, claiming ECG’s actions were wrongful. The company sought a declaration of wrongful termination, direct costs of about US$39.4 million, and alleged lost profits of US$351.5 million.
ECG, represented by Omnia Strategy LLP, led by Cherie Blair KC, robustly defended the case, maintaining that the termination was fully justified and in the national interest.
ECG argued that PDS had failed to exercise due diligence in verifying the authenticity of the payment guarantees—an omission that fundamentally undermined the concession.
After years of legal submissions and hearings, the London-seated tribunal dismissed all of PDS’s claims in their entirety. The tribunal upheld ECG’s position that the fraudulent guarantees went to the heart of the concession and justified its termination of the agreement.
The ruling is a major win for ECG and the Government of Ghana, shielding the state from potential financial liability amounting to hundreds of millions of dollars. It also brings closure to one of the most contentious chapters in Ghana’s recent energy sector history.
With this victory, ECG is now positioned to move forward and focus on improving power distribution for Ghanaians without the shadow of the PDS dispute.
The decision also reaffirms the state’s stance on protecting public resources and ensuring accountability in major national contracts.
Algeria: SONATRACH Appoints Nour Eddine Daoudi As New Chairman & CEO
Algeria’s national oil company, SONATRACH, has appointed Nour Eddine Daoudi as the new Chairman and Chief Executive Officer (CEO) of the SONATRACH Group.
He succeeds Mr. Rachid Hachichi and assumed office earlier this week following a brief ceremony attended by the Minister of State for Hydrocarbons and Mines, Mr. Mohamed Arkab.
In his remarks, the Minister noted that the appointment of the new Chairman and CEO comes at a time of renewed momentum in the hydrocarbons and mining sectors, reflecting the strategic vision of the President of the Republic, Mr. Abdelmadjid Tebboune.
Mr. Arkab commended SONATRACH’s achievements and emphasized the challenges and opportunities ahead for the company. He reaffirmed that Algeria continues to rely on SONATRACH to maintain its leading position among global energy players.
The Minister outlined key priorities for the company, including boosting national production capacity—particularly in natural gas—developing petrochemical projects to strengthen the processing industry, expanding international cooperation through new contracts and partnerships, accelerating the energy transition, reducing carbon emissions, and modernizing exploration and production systems with advanced digital technologies.
During the ceremony, Mr. Arkab expressed full confidence in Mr. Daoudi, describing him as a prominent figure in Algeria’s energy sector with proven technical expertise, strategic management skills, and extensive experience in negotiations with major international companies.
He also extended appreciation to Mr. Rachid Hachichi for his dedication and leadership during his tenure, commending his sense of duty and contribution to the Group’s progress.
For his part, Mr. Daoudi expressed deep appreciation for the trust placed in him by President Tebboune and the Minister of State, acknowledging the significant responsibility that comes with leading SONATRACH—a pillar of the national economy and a key driver of Algeria’s energy industry.
He pledged, with the support of the company’s management and staff, to build a stronger and more resilient SONATRACH—one that is open to new perspectives and firmly focused on the future through investments in clean and renewable energy, innovation in research and development, and enhanced competitiveness.
Mr. Daoudi emphasized that SONATRACH’s greatest asset remains its human capital and reaffirmed his vision to make the company a regional and global leader, ensuring national energy security and reinforcing Algeria’s international standing while upholding the principles of sustainability, and environmental and social responsibility.
Mr. Nour Eddine Daoudi holds a state engineering degree in geology, obtained in 1987 from the Houari Boumediene University of Science and Technology of Bab Ezzouar (USTHB) in Algiers.
He joined SONATRACH a year after graduation and has held several key positions within the Exploration Division, where he introduced modern technical and scientific methods to enhance performance and deepen geological understanding.
In 2018, he was appointed Director of the Exploration Division, a role he held until the end of 2019.
In April 2020, he became Director of Hydrocarbon Resources at ALNAFT, serving until June 2023. During his tenure, he implemented comprehensive reforms to modernize the agency, focusing on management efficiency, transparency, and improving the investment climate in Algeria’s hydrocarbon sector.
Ghana: Liberia Electricity Corporation Understudies BPA Operations
A high-level delegation from the Liberia Electricity Corporation (LEC), led by Deputy Managing Director for Technical Services, Mr. Mohammed L. Sow, has visited Ghana’s Bui Power Authority (BPA) to understudy its operations and explore collaboration in renewable energy development.
The purpose of the visit was to gain insight into BPA’s integrated renewable energy systems and explore collaborative opportunities to enhance Liberia’s energy infrastructure.
During the visit, the delegation toured BPA’s renewable energy facilities and infrastructural assets, including the 404 MW hydroelectric plant, the floating and land-based solar PV installations, staff residential facilities, and resettlement communities.
The delegation expressed deep appreciation for BPA’s innovative and diversified approach to power generation.
Speaking on behalf of the Acting CEO of BPA, Deputy CEO in charge of Engineering Operations and Technical Services, Ing. Samuel Nimako-Boateng, reaffirmed the Authority’s commitment to advancing sustainable energy solutions across Africa.
“As a recognized leader in renewable energy innovation, we look forward to partnerships with like-minded institutions and governments across the continent,” he said.
Speaking on behalf of the Acting CEO of BPA, Deputy CEO in charge of Engineering Operations and Technical Services, Ing. Samuel Nimako-Boateng, reaffirmed the Authority’s commitment to advancing sustainable energy solutions across Africa.
“As a recognized leader in renewable energy innovation, we look forward to partnerships with like-minded institutions and governments across the continent,” he said.
Nigeria: Africa Must Pursue Energy Transition On Its Own Terms — Ekperikpe Ekpo
Nigeria’s Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, has underscored the need for Nigeria and Africa to pursue energy transition based on their national realities rather than global general agendas.
Ekpo stated this on Wednesday during a ministerial panel session on “Global Shifts: Navigating an Era of Diverging Priorities” at the ongoing 2025 Abu Dhabi International Petroleum Exhibition and Conference.
He stressed that Nigeria, and indeed Africa, must be allowed to use their resources responsibly rather than follow externally imposed pathways that could undermine economic stability.
“Our position is clear: Nigeria and Africa cannot decarbonise into poverty. We must be allowed to use our resources responsibly to provide energy security, drive industrialisation, and ensure sustainable growth,” he said.
Ekpo emphasised that while Nigeria supports global decarbonisation goals, the energy transition must be sequential, just, and balanced, adding that the continent could not afford to decarbonise at the expense of development.
“For Nigeria today, about 80 million people are without access to electricity, and across Africa, more than 600 million still live without power. Millions also rely on biomass for cooking, which is not clean. Gas remains central to Nigeria’s energy strategy, serving as a low-emission fuel for power generation, industrialisation, transportation, and clean cooking,” he said.
The minister revealed that Nigeria was expanding renewable energy deployment in viable areas to complement natural gas utilisation and reduce carbon emissions.
He explained that while renewables were part of the country’s energy mix, heavy industrial and power loads could not yet be met solely through renewable sources.
“We are therefore taking advantage of our abundant natural gas to power our economy and ensure a just and inclusive energy transition,” he added.
The global energy industry is entering a new phase defined by recalibration rather than acceleration, as governments seek to reconcile sustainability targets with the realities of affordability, access, and security.
Amid this complexity, energy leaders are reshaping their strategies to sustain economic resilience — advancing renewables and power sector reforms while modernising legacy systems to ensure reliability and investment continuity.
The resurgence of hydrocarbons, volatility in critical minerals, and renewed regional competition for energy supply are compelling governments to strengthen domestic capacity and pursue pragmatic cooperation across borders.
Ghana: Former NPA CEO Denies OSP’s Alleged GH¢100 Million-Plus Asset Seizures
Ghana’s downstream petroleum regulator, the National Petroleum Authority (NPA), former Chief Executive Officer, Dr. Mustapha Abdul-Hamid, has denied what he described as spurious claims by the Office of the Special Prosecutor (OSP) that it has seized and frozen assets valued at more than GH¢100 million and over US$100 million linked to him.
His lawyer, Hanifa Yahaya of Hay & Partners, said no properties belonging to Dr. Abdul-Hamid have been identified, traced, or confiscated, and described the OSP’s statements as “false, misleading, and damaging.”
Dr. Abdul-Hamid is currently standing trial before the Criminal High Court in Accra on several counts of alleged corruption and financial crimes, including extortion and money laundering—charges he has flatly denied.
The next court appearance is scheduled for November 13, 2025. In a viral video circulating recently, Dr. Abdul-Hamid was heard dismissing the case as “useless,” accompanied by laughter.
His remarks appear to have irked the Office of the Special Prosecutor, which reiterated that it has seized and frozen assets valued at more than GH¢100 million and over US$100,000, with additional assets still under active tracing.
“These actions are based on strong documentary, banking, and transaction evidence linking the proceeds to the alleged offences.
This case represents a major step in protecting public funds, ensuring accountability in the petroleum sector, and affirming that no public official is above the law. The seriousness of the charges and the scale of the alleged losses make this prosecution a critical test of Ghana’s commitment to fighting corruption,” the OSP stated.
However, reacting to the OSP’s statement, HAY & Partners at Law, legal counsel for Dr. Abdul-Hamid, described the OSP’s claims as “false, misleading, and injurious,” insisting that no assets or businesses belonging to or associated with Dr. Abdul-Hamid have been identified, traced, or seized by the OSP.
“Our client owns no such assets, directly or indirectly, and no property worth the stated amount exists anywhere in connection with him,” the statement said.
The lawyers further noted that the OSP’s own amended charge sheet, filed on October 17, 2025, contains no reference to any such assets, stressing that the accompanying statement of facts is “devoid of any mention of supposed seized properties.”
The firm criticized the OSP for making public assertions inconsistent with its court filings, describing such conduct as unethical and contrary to prosecutorial standards.
“Engaging in public commentary that distorts facts before the court is inconsistent with those obligations and unbecoming of the prosecutorial office,” the statement added.
According to the lawyers, Dr. Abdul-Hamid has cooperated fully with the OSP since the commencement of investigations—honouring all invitations, appearing in court when required, and demonstrating respect for judicial processes.
“It is deeply regrettable that instead of complying with court orders, including directives to file disclosures, the OSP has chosen to engage in public theatrics and false reportage,” the lawyers said, urging the OSP to focus on “prosecutorial diligence rather than media sensationalism.”
They reminded the public that Dr. Abdul-Hamid remains innocent until proven guilty, as guaranteed by the 1992 Constitution, warning that attempts to misinform the public risk undermining the rule of law and the integrity of the judicial process.
Libya: NOC Announces New Onshore Oil Discovery In Ghadames Basin
Libya’s National Oil Corporation (NOC) has announced that its wholly owned subsidiary, Arabian Gulf Oil Company (AGOCO), has made a new oil discovery in the Ghadames Basin in northwestern Libya, near the Libyan-Algerian border.
A statement by the company, carried by Reuters, noted that the discovery was made in well H1-NC4, with daily production estimated at about 4,675 barrels of crude oil and approximately 2 million cubic feet of gas.
Last week, the Libyan state oil company also announced a new oil discovery by the Libyan subsidiary of Austrian energy firm OMV in Block 106/4 in the Sirte Basin, one of the world’s top petroleum provinces in terms of estimated reserves.
Production tests showed that the exploration well is producing more than 4,200 barrels of oil per day, with gas production expected to exceed 2.6 million cubic feet daily, the NOC said.
The well marks the first discovery for OMV in Block 106/4, under the Exploration and Production Sharing Agreement (EPSA) signed in 2008 between the NOC, as the owner, and OMV, as the operator.
OMV returned to Libya at the end of 2024 after more than a decade. Foreign oil and gas companies suspended operations in late 2011 following the toppling of Muammar Gaddafi and the subsequent civil war.
Security conditions in Libya have improved in recent months, allowing foreign majors to resume exploration activities in one of Africa’s top oil-producing nations.
Algerian state energy firm Sonatrach resumed oil and gas exploration drilling in Libya’s Ghadames Basin in mid-October.
Italy’s energy giant Eni also restarted exploration activities in the offshore area northwest of Libya after a hiatus of more than five years, the NOC said in early October.
In July, the NOC signed agreements with supermajors BP and Shell to explore and assess the oil and gas potential of several fields across the country, marking another step in Big Oil’s return to Libya.
Ghana: ‘Big Oil Investors’ Now Showing Interest In Upstream Sector – Energy Minister
The Ghanaian government’s reset agenda for the upstream petroleum sector is yielding positive results, with the investment community showing renewed interest, Energy Minister John Abdulai Jinapor has disclosed.
Speaking in Takoradi on Tuesday at the opening of the 2025 Local Content Conference and Exhibition, Mr. Jinapor stated that after a prolonged downturn that resulted in a 32% decline in oil production, the oil and gas sector is showing clear signs of recovery, driven by strategic government interventions.
He attributed the sector’s previous challenges to regulatory inefficiencies, ambiguous and inconsistent policies that sent mixed signals to investors, and burdensome tax regimes—factors that had brought the industry to its knees.
However, Mr. Jinapor emphasised that under the Mahama-led administration, targeted reforms are reversing these fortunes, expressing strong confidence in the sector’s sustained rebound. He underscored the need for concerted, long-term efforts to preserve and build on the current gains.
“Since assuming office, we’ve resolved the dispute between Springfield and ENI—a move that sent a strong positive signal. In the oil sector, consistency and clear signalling are important. I’m pleased to report that in this short time, we’ve increased gas production to approximately 50 MMSCFD. We’ve also signed a $1.5 billion framework agreement with ENI and a $2 billion agreement with the Jubilee partners. Major industry players are now showing renewed interest in Ghana,” he stated.
Also speaking at the event, Acting CEO of GNPC, Kwame Ntow Amoah, reiterated the Corporation’s leadership in driving innovation and local competence across Ghana’s petroleum sector.
Mr. Amoah called for renewed collaboration among policymakers, investors, and operators to revitalise Ghana’s exploration and production sector through technology, research, and homegrown capacity.
Highlighting progress in the Voltaian Basin Project and the establishment of GNPC’s Research & Technology Centre, he said the Corporation continues to build the systems, partnerships, and people that define Ghana’s upstream future.
“Local content must evolve beyond mere percentages to become a catalyst for competitiveness, sustainability, and growth,” Mr. Amoah concluded.
Ghana: CBOD Pushes For Stronger Collaboration Within West Africa’s Energy Sector
The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Ghana, Dr. Patrick Ofori, has underscored the need for stronger collaboration among West African countries to boost regional energy trade and integration.
Speaking at the 19th OTL Africa Downstream Energy Week in Lagos, Nigeria, Dr. Ofori noted that unlike East Africa—where member states have advanced in integrating payment systems and pipeline contracting for product supply—West Africa continues to lag behind in developing a unified petroleum market.
“If we don’t step up our collaboration in West Africa, we will continue to operate in isolation. East Africa has made significant progress with regional payment systems and joint pipeline management. By now, we should have gone beyond just the West African Gas Pipeline,” Dr. Ofori stated.
He added that with the Dangote Refinery now operational, the region must seize the opportunity to establish a common pricing framework and create an enabling environment where refined products can move seamlessly between Nigeria, Ghana, and neighbouring markets.
“We need to create a system where petrol can move directly from Nigeria to Ghana—either through pipelines or shared vessel operations. That requires currency compatibility and a unified petroleum policy to support trade flows,” he explained.
Dr. Ofori further emphasised that Ghana and Nigeria must take the lead in driving this regional alignment, noting that other countries would naturally follow.
“You cannot downplay Nigeria’s impact on the petroleum economy. It’s a major player, and any meaningful regional integration must start with Nigeria and Ghana,” the CBOD CEO said.
Ghana: Petrol, Diesel Fuel Prices Drop, Average Petrol Price Below GH¢12
Oil Marketing Companies (OMCs) in Ghana have reduced their pump prices for petrol and diesel in the first pricing window of November 2025, with some OMCs selling petrol below GH¢12 per litre and diesel below GH¢13 per litre.
As of Wednesday, November 5, 2025, most of the major OMCs had adjusted their prices, with petrol selling between GH¢11.77 and GH¢12.58, and diesel selling between GH¢12.00 and GH¢12.77 per litre.
The decrease in fuel prices is attributed to the continued appreciation of the local currency, the cedi, against foreign currencies, as well as the decline in refined petroleum product prices on the international market.
As of Tuesday, November 4, 2025, the average interbank exchange rate for the US dollar stood at GH¢10.99.
In Ghana, fuel prices are reviewed every two weeks by OMCs, based on fluctuations in key factors such as exchange rates, refined petroleum product costs, and inflation.
In contrast, fuel prices are reviewed monthly in many other African countries.
The market leader, Star Oil, is selling Petrol (RON 91) at GH¢11.97 per litre, Petrol (RON 95) at GH¢14.68 per litre, and diesel at GH¢12.47 per litre.
GOIL is selling Petrol (RON 91) at GH¢12.52 per litre, Petrol (RON 95) at GH¢14.85 per litre, and diesel at GH¢12.76 per litre.
Shell is selling petrol at GH¢12.55 per litre and diesel at GH¢12.77 per litre, while Shell V-Power is sold at GH¢14.39 per litre.
TotalEnergies is selling petrol at GH¢12.55 per litre and diesel at GH¢16.67 per litre.
PETROSOL is selling petrol at GH¢12.48 per litre and diesel at GH¢12.98 per litre.
Other OMCs are yet to review their pump prices.